Rochester, NY 8/8/2009 7:15:28 AM
After Hours - Novartis AG, NVS - Novartis, a New Drug Stock of Choice?
Novartis AG
Novartis, a Swiss drug giant, should have hearts pounding on Wall Street, after the company launched a slew of new medicines in the last two years.
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Still, Novartis has lagged gains by the broader stock market. Because the company's foreign sales are reported in U.S. dollars, currency fluctuations are hurting revenues. And analysts are at odds over whether Novartis can make up for lost revenues and keep growing profits after patents protecting top-selling drugs expire starting in 2011.
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